Payment of Taxes, Assessments, and other Amounts; Maintenance of Insurance. 4.1 Grantor will pay not later than the last date the same may be paid without penalty, interest, or other similar charge, all real and personal property taxes, assessments, levies, charges, fines, and impositions of every nature whatsoever imposed, levied, or assessed or to be imposed, levied, or assessed upon or against the Property or the Collateral which are now liens thereon and any which may hereafter become liens thereon, in accordance with the terms of the Performance Agreement; provided, however, that Grantor shall have the right to contest in good faith and by appropriate lawful proceedings any such taxes, assessments, fees, dues, charges, fine or impositions if (i) the execution or other enforcement of any lien or charge upon the Property or Collateral is and continues to be effectively stayed or bonded in a manner satisfactory to Lender, and (ii) such appropriate lawful proceedings and such liens or charges do not materially impair the operation of the business located at the Property.
Payment of Taxes, Assessments, and other Amounts; Maintenance of Insurance. (a) The Grantor shall pay, when due, all charges for utility services used in connection with the Mortgaged Property. The Grantor shall pay, or cause to be paid, when due, any and all taxes levied by any governmental body as a result of the Grantor’s ownership, possession, or use of the Mortgaged Property.
Payment of Taxes, Assessments, and other Amounts; Maintenance of Insurance. (a) The Grantor covenants and agrees that it will pay when due, all taxes, assessments, levies and charges upon or against the Property and Collateral, of every character which are now due or which may hereafter become liens thereon, including all taxes assessed in North Carolina against the Trustee or the Beneficiary on this instrument or the sum hereby secured or evidenced by the Note, provided the amount of such latter taxes with the interest on the sum hereby secured does not exceed the maximum contract rate permitted by law, but if it does, the excess to be paid by the Beneficiary; and immediately deliver to the Beneficiary official receipts therefor. The Beneficiary may, at its option, pay any such taxes assessments, levies or charges against the Property or Collateral and the official receipts therefor shall be conclusive evidence of payment, the amount due and validity thereof. Any amounts so expended shall immediately become debts due by the Grantor payable on demand, shall bear interest at the rate specified in the Note secured hereby, and their payment shall be secured by this Deed of Trust. (b) The Grantor covenants and agrees that it will keep the improvements and Collateral now or hereafter on the Property insured against loss and damage by fire, tornado and windstorm, and against such other hazards as the Beneficiary may require, including business interruption (if required by the Beneficiary), in amounts satisfactory to the Beneficiary, plus an amount sufficient to prevent any co-insurance liability of the owner of the Property or the Beneficiary, for the benefit of the Beneficiary, loss, if any, to be made payable in the policy or policies of insurance to the Beneficiary as its interest may appear, the loss payable clauses to be in such form as the Beneficiary may require. All insurance shall be in companies approved by the Beneficiary and the policies and renewals thereof shall, when issued, be immediately delivered to the Beneficiary, to be held by it and all insurance policies shall provide for at least ten (10) days prior written notice of cancellation to Beneficiary. The Grantor will pay all premiums for such insurance when due and immediately deliver to the Beneficiary official receipts therefor, in the event of loss, the Grantor will give immediate notice by mail to the Beneficiary, who may make proof of loss if not made promptly by the Grantor. Each insurance company concerned is hereby authorized and directed to make payment of su...
Payment of Taxes, Assessments, and other Amounts; Maintenance of Insurance. (a) The Grantor covenants and agrees that it will pay, prior to delinquency, all taxes, assessments, levies and charges upon or against the Property and Collateral, of every character which are now due or which may hereafter become liens thereon, including all taxes assessed in North Carolina against the Trustee or the Beneficiary on this instrument or the sum hereby secured or evidenced by the Note, provided the amount of such latter taxes with the interest on the sum hereby secured does not exceed the maximum contract rate permitted by law, but if it does, the excess to be paid by the Beneficiary; and immediately deliver to the Beneficiary official receipts therefor. If and to the extent not paid prior to delinquency by Grantor, the Beneficiary may, at its option, pay any such taxes, assessments, levies, or charges against the Property or Collateral, and the official receipts therefor shall be conclusive evidence of payment, the amount due and validity thereof. Any amounts so expended shall immediately become debts due by the Grantor payable on demand, shall bear interest at the rate specified in the Note, and their payment shall be secured by this Deed of Trust.
Payment of Taxes, Assessments, and other Amounts; Maintenance of Insurance
